1. A project proposal stated that it would provide at least $20,000 in annual returns for the next 3 years but requires an initial investment of $50,000. Will its approval be worthwhile if the cost of capital is 8%? 2. Find the net present value for a project that would yield $25,000, $35,000, $30,000, and $40,000 in the first 4 years of operation if the interest rate is 9.5% and the initial investment is $80,000.